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Investing.com -- Gentex Corporation (NASDAQ:GNTX) stock rose 3% after the digital vision and connected car technology supplier announced its Board of Directors has authorized an additional share repurchase program of up to 40 million shares.
The new authorization comes on top of the company’s existing share repurchase program and represents more than 18% of Gentex’s outstanding shares as of June 30, 2025. The timing and amount of share repurchases will depend on various factors including macroeconomic conditions and market dynamics.
Steve Downing, President and CEO of Gentex, stated that the company’s capital allocation priorities remain focused on manufacturing investments, dividends, new technology creation, accretive acquisitions, and share repurchases designed to support long-term growth and value creation.
"This new authorization reflects our continued commitment to disciplined capital deployment, and more importantly underscores our confidence in the long-term growth trajectory of our business, supported by a robust product development pipeline, a strong customer base, and a team of world-class talent," Downing added.
The company noted that the repurchase program does not obligate Gentex to acquire any specific number of shares and may be modified, suspended, or discontinued at any time at the company’s discretion.
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